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Can a sole proprietorship truck driver skip Schedule k and just do schedule C

EP3473
Level 2

A truck driver has a schedule K for no reason, can we skip form 1065 and schedule K and just do a schedule C?

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Accepted Solutions
qbteachmt
Level 15

You don't have a Schedule K (or K-1) for no reason; someone made it appear and provided it. You don't use Form 1065 unless it is a partnership,which means, more than one person as a company. Whoever did a 1065 did it wrong. That needs to be addressed, because that was already filed for the year, if they met the deadline.

You use Schedule C which is part of Form 1040 because the person is not running the business under any corporate structure.

That person, and you, needs to know what is the entity type that this is being operated under? No one on the internet can tell you about your own taxpayer.

And notice how Schedules relate to Forms. The Form is what the taxpaying entity is supposed to file; any associated Schedules are required to provide details about activities that apply.

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2 Comments 2
Just-Lisa-Now-
Level 15
Level 15

Sch K?     Do you mean he was issued a K-1?  1065?  How does a partnership fit into this situation?  


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
qbteachmt
Level 15

You don't have a Schedule K (or K-1) for no reason; someone made it appear and provided it. You don't use Form 1065 unless it is a partnership,which means, more than one person as a company. Whoever did a 1065 did it wrong. That needs to be addressed, because that was already filed for the year, if they met the deadline.

You use Schedule C which is part of Form 1040 because the person is not running the business under any corporate structure.

That person, and you, needs to know what is the entity type that this is being operated under? No one on the internet can tell you about your own taxpayer.

And notice how Schedules relate to Forms. The Form is what the taxpaying entity is supposed to file; any associated Schedules are required to provide details about activities that apply.

*******************************
Don't yell at us; we're volunteers